Israeli Cyber Startup LightCyber in $10 Million Funding Round

Israeli Cyber Startup LightCyber in $10 Million Funding Round
September 10, 2014 Hagar
 

TEL AVIV—Light Cyber Ltd., an Israeli based cyber-security start-up, has raised $10 million in a new funding round led by Battery Ventures.

Also participating in the round are existing investors Glilot Capital Partners, which led the company’s previous round, and Marius Nacht, one of the co-founders of Check Point Software Technologies  (CHKP). Itzik Parnafes, general partner of Battery Ventures, will join LightCyber’s board of directors.

Founded in 2011 by veterans of the Israel Defense Force’s technological units, Lightcyber makes a data security system that it says enables companies to detect cyber penetrations early on.

Once deployed the technology creates a profile for users and devices in the company’s systems. The profile is based on data gathered from the network, devices, and users and detects anomalies based on a benchmark it creates.

“Over the last few years we’ve seen that security products do not keep hackers out. Once the attackers are in they can stay dormant for weeks and months before actually making their move. We have found exploits in every single enterprise our software was deployed in, even in off-line systems,” said Gonen Fink, chief executive officer of LightCyber.

LightCyber started selling its product in 2013 and says it currently has dozens of clients, among them banks, law firms, and government agencies.

“In today’s landscape of advanced, persistent threats, old-fashioned, perimeter security measures are no longer sufficient. Today, a company’s security arsenal must contain technology that can identify malicious activity in the internal network with a minimum of false-positives,” said Battery’s Parnafes.

Earlier this month Israeli Cyber-Security Startup GuardiCore Ltd. announced an $11 million funding round, also led by Battery Ventures. ThetaRay Ltd. another Israeli cyber security start-up, announced an investment of $10 million in late July.

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